International Flavors & Fragrances Inc. (NYSE:IFF) Announces Quarterly Dividend of $0.40

International Flavors & Fragrances Inc. (NYSE:IFF) declared a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Friday, December 20th will be given a dividend of 0.40 per share by the specialty chemicals company on Wednesday, January 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, December 20th.

International Flavors & Fragrances has increased its dividend payment by an average of 2.2% per year over the last three years. International Flavors & Fragrances has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Flavors & Fragrances to earn $4.56 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 35.1%.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $99.43 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.75 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $103.02 and its 200 day moving average price is $97.63. International Flavors & Fragrances has a 1-year low of $65.81 and a 1-year high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Sell-side analysts anticipate that International Flavors & Fragrances will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IFF has been the subject of a number of analyst reports. UBS Group cut their target price on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Citigroup increased their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Stifel Nicolaus boosted their target price on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their price target for the company from $109.00 to $120.00 in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and an average price target of $107.86.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.